Investors' Soapbox PM

Not Too Chipper for Chip Stocks

Though MKM Partners is bullish on a few semiconductor names, "we struggle to see how the group broadly will be higher a year from now."

December 7, 2012

MKM Partners

After significant cuts over the course of the last two months, consensus estimates for 2013 and 2014 for broad-based semiconductor companies are much more realistic, but valuation for many names suggests that investors expect a sharper and faster snapback than seems likely.